Posted on 02/19/2008 5:27:44 PM PST by smokinleroy
Oil is cause of downturn
Exxon-Mobil earned $81 billion in profits in the last two years. Are we surprised? Supply and demand that's what they say. So Exxon-Mobil could reduce the price of a gallon of gasoline to $1.50 and the company still could earn $40 billion in profits in two years. Am I wrong on my math?
I predicted a recession two years ago when the price of gasoline hit the ceiling. It does not take a rocket scientist to figure out that if we suck all the extra dollars from our citizens and force them to put it in their gasoline tanks and heating oil tanks, they will have no money left to buy clothing, gifts, entertain, go out to dinner, or buy the things that Congress and President George W. Bush say we now need to buy to come out of the dive into which this country's economy is heading.
So, the country is going to go into more deficit spending to send everyone a check for $500 or more. If the oil companies lowered the price of gasoline to $1.50, we would have an extra $100 a month to spend. Of course, if you earn $100,000 or more a year, or have stock in Exxon, you don't care about that.
We have a milk marketing board in Pennsylvania that regulates the price of milk. Why not establish a gasoline marketing board? What we don't need is an excess-profits tax. We don't need to give more money to an already glutted Congress that spends money like the old proverbial drunken sailor. Shame on all of our elected officials from top to bottom for allowing this rip-off to continue. Price-fixing by the oil companies is running rampant.
Ronald Goebel
Cranberry Township
Thats alot of popcorn..
If we cut off Opec, and stopped importing from the mideast all together, drilling our own of course to replace it, especially if we did it as a sanction, the mideast would look completely different at us. They believe they have us right where they want us.
We should be using Coal and Nuclear power for Electricity. We should be using our natural gas to power our cars. We have the infrastructure to do this. We could fill our cars in our homes if you have a gas line to your house.
It is insane that we use so much gasoline in this country when we have so much natural gas.
Funny, the record taxes paid by Exxon in 2007 would more than pay for the silly little tax rebate. I guess we just don’t want to talk about that.
Irrelevant. Talking about profits and what it costs for a company to produce gasoline vs orange juice.
Don’t tell everybody. Others will do the same thing and then the price of corn will go up and I will no longer be able to afford my corn flakes. They cost an arm and a leg as it is.
Above all, we need to BREAK OPEC - the cartel that funds terror and high prices and is buying us up!
What’s your point? That those earning more pay more?
Egads! Run for the hills, the Hottentots are coming!
It’s very relevant. Orange juice is not a necessity, it can be replaced with an alternate - water, apple juice, cola, whatnot.
Gasoline cannot.
You cannot pull into a gasoline station and say, “Hmmm, gas is a might bit expensive today, I’ll use diesel instead!”
Therefore, gasoline is an inelastic commodity. One will simply pay the price or go without. No choice.
I needed to look that up.
A group referred to as “the Hottentots” at times appeared in the writings of Eighteenth Century Europeans, often used as a standard of the lowest, most “savage” types of human beings.
Yes, utterly hopeless. First, ask for Exxon's *sales* over the last 2 years.
The state of what passes for economic education...
I understand that the Republican party used to be the party of the rich but that had all changed....maybe it hasn't...maybe we have a lot of Republicans that don't give a hoot that the Mom and Dads out there are paying so much out of pocket for gas and heating fuel....
IOWS....no differant than the limosine liberals....
Yes, this guy is an incredible idiot, but further evidence of what this country is up against as it tries to make progress. Vote for HRc or Obama and more of the same.
“Others will do the same thing and then the price of corn will go up “
DONT WORRY - THEY’LL make more - every summer.
The government has to do something to justify all that easy money they are getting. They would regulate the hair on a mole if it would pad their wallets.
In the same time period, they paid $201.6 Billion in taxes.
In 2006 they paid $97.5 billion in taxes.
Sales-based taxes - $30.381B
Other taxes and duties - $39.203B
Income taxes - $27.902B
ExxonMobils 2006 Financial and Operating Review
http://exxonmobil.com/Corporate/Files/Corporate/fo_2006.pdf
Page 22
In 2007 $105.6 BILLION in taxes.
Income Taxes - $29,864
Sales Based Taxes - $31,728
All Other Taxes - $44,091
http://www.exxonmobil.com/corporate/files/corporate/news_release_earnings4q07.pdf $105.6 BILLION in taxes.
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